Rafael Nam
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And yes, there are some businesses and even some cities like Detroit that are starting to accept cryptocurrencies. But really, it's become a speculative investment for people on Wall Street and for average people too. A way to make money, essentially. The thing is, cryptocurrencies are incredibly volatile, and they've created a lot of financial pain.
So critics like Dennis Kelleher from advocacy group Better Markets are concerned that this latest rally could end really badly.
So critics like Dennis Kelleher from advocacy group Better Markets are concerned that this latest rally could end really badly.
So critics like Dennis Kelleher from advocacy group Better Markets are concerned that this latest rally could end really badly.
Worse than the global financial crisis. And if that prediction does come true, it would be ironic given that Bitcoin was created in part as a response to the crisis. And isn't Bitcoin associated with all kinds of shady activities? Yes. Indeed, cryptocurrencies have become widely used by all kinds of illegal actors, from hackers looking for ransomware to drug dealers.
Worse than the global financial crisis. And if that prediction does come true, it would be ironic given that Bitcoin was created in part as a response to the crisis. And isn't Bitcoin associated with all kinds of shady activities? Yes. Indeed, cryptocurrencies have become widely used by all kinds of illegal actors, from hackers looking for ransomware to drug dealers.
Worse than the global financial crisis. And if that prediction does come true, it would be ironic given that Bitcoin was created in part as a response to the crisis. And isn't Bitcoin associated with all kinds of shady activities? Yes. Indeed, cryptocurrencies have become widely used by all kinds of illegal actors, from hackers looking for ransomware to drug dealers.
So yes, there is a lot of excitement about Bitcoin, but there's also a lot of people who are alarmed.
So yes, there is a lot of excitement about Bitcoin, but there's also a lot of people who are alarmed.
So yes, there is a lot of excitement about Bitcoin, but there's also a lot of people who are alarmed.
It will be a shorter trading week because of the Thanksgiving holiday. But for investors, there will be plenty to digest. The key economic data will be the Federal Reserve's favorite inflation gauge out on Wednesday. It's called the Personal Consumption Expenditures Price Index, and investors are hoping it will show inflation continuing to ease.
It will be a shorter trading week because of the Thanksgiving holiday. But for investors, there will be plenty to digest. The key economic data will be the Federal Reserve's favorite inflation gauge out on Wednesday. It's called the Personal Consumption Expenditures Price Index, and investors are hoping it will show inflation continuing to ease.
Also this week, the Fed will release minutes from its meeting earlier this month. Policymakers lowered interest rates for a second time this year at that meeting and will get new home sales data as well. Meanwhile, companies continue to report earnings, including Macy's this week. Rafael Nam, NPR News.
Also this week, the Fed will release minutes from its meeting earlier this month. Policymakers lowered interest rates for a second time this year at that meeting and will get new home sales data as well. Meanwhile, companies continue to report earnings, including Macy's this week. Rafael Nam, NPR News.